IP505414 - Best Practice - Life-Cycle-Cost Management


This course is no longer taught and is only available for examination. For a complete course description, see previous academic years.

Examination arrangement

Examination arrangement: Assignment
Grade: Letters

Evaluation Weighting Duration Grade deviation Examination aids
Assignment 100/100

Course content

Many products have long lives and a significant part of the costs are incurred after sales (design, engineering, procurement, production, assembly, transportation, maintenance, repair and so on). Cost models and analysis Cost elements Investment analysis LCC as engineering tool LCC as management tool

Learning outcome

After concluding the project the student should know the methodology and main principles of Life-Cycle-Cost Management.      The student should be able to carry out any cost estimation task using available information, modelling uncertainty, necessary guides and books as well as understand and interpret the results.      The student will learn about Activity-Based Costing, various Life-Cycle Costing methodologies, Monte Carlo simulations, modelling uncertainty, Economic Profit calculations as well as Net Present Value estimations.  The student will learn how to combine these approaces to produce the best overall cost management advice to a decision-maker.

Learning methods and activities

The course is given during one week, and is organized with lectures on background topics and an introduction to a case study. The case study will then be solved individually or in groups and documented in a project report. The total workload for the course is expected to be 2 weeks including independent research and literature survey supporting the project work.Grading will be based on the project report, and will assess the candidate(s) ability to interpret, familiarize, reflect and apply the course topics.

Compulsory assignments

  • Mandatory assignment

Further on evaluation

Project report (100%)

Specific conditions

Compulsory activities from previous semester may be approved by the department.

Admission to a programme of study is required:
Naval Architecture (850MD)
Naval Architecture (850ME)
Product and System Design (840MD)
Product and System Design (845ME)

More on the course



Version: 1
Credits:  3.8 SP
Study level: Second degree level


Language of instruction: English

Location: Ålesund

Subject area(s)
  • Marine Technology
Contact information
Course coordinator: Lecturer(s):

Department with academic responsibility
Department of Ocean Operations and Civil Engineering


Examination arrangement: Assignment

Term Status code Evaluation Weighting Examination aids Date Time Examination system Room *
Spring ORD Assignment 100/100 INSPERA
Room Building Number of candidates
  • * The location (room) for a written examination is published 3 days before examination date. If more than one room is listed, you will find your room at Studentweb.

For more information regarding registration for examination and examination procedures, see "Innsida - Exams"

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